VETERINARY ARTIFICIAL INSEMINATION MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The veterinary hospital segment is expected to witness significant growth in the market, owing to the rising livestock population, higher prevalence of transmitting diseases, and increasing artificial insemination techniques. In India, Animal Husbandry Department launched a program to safeguard its employees and farmers against COVID-19. The veterinary hospitals provided artificial insemination services during the COVID-19 pandemic with preventive measures, such as gloves, masks, sanitizers, and floor cleaners, to maintain the optimal level of hygiene. In the United States, ABC Veterinary Hospital provided artificial insemination services by keeping staff and pet parents safe during the COVID-19 outbreak and implemented new procedures to prevent COVID-19 infection.

Globally, an increasing number of hospitals performing artificial insemination techniques and a rising number of veterinarians are driving the market growth. For instance, as per Animal Husbandry, Dairying and Fisheries Department 2020-2021 report, in India, field institutions of the department provided breeding services to the cattle population. Furthermore, an artificial insemination service was provided for cattle and buffaloes at the cost of INR 10 per insemination. A total of 48.88 lakh artificial inseminations were performed during the 2019-2020 period.

The Global Veterinary Artificial Insemination Market size is expected to grow from USD 4.47 billion in 2023 to USD 6.11 billion by 2028, at a CAGR of 6.45% during the forecast period (2023-2028).

The COVID-19 pandemic has created a significant adverse impact on different sectors, including the veterinary sectors in several countries. It has caused disruptions in livestock and poultry value chains, leading to a fall in the procurement and sale of animal-sourced food. Animals suffered due to a lack of adequate feed and veterinary care, such as the need for timely artificial insemination, timely pregnancy check, and de-worming. To safeguard farmers and employees against COVID-19, the Animal Husbandry Department of India launched a program in June 2020, which offered telephonic assistance to poultry farmers and owners. Additionally, artificial insemination was delivered to farmers at their doorstep during the COVID-19 pandemic. Therefore, such initiatives have contributed to market growth.

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